Flame Retardant Market - By Type (Aluminum Trihydrate, Brominated, Chlorinated, Phosphorous and Others), By End User (Building & Construction, Electronics, Automotive, Wires & Cables and Others) and By Region - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Flame retardant is family/class of chemicals that are added to other materials such as plastics, coatings, textile, electric devices, and construction material to delay or stop the production of flames to prevent the spread of fire. Moreover, it has property of decreasing the flammability of burnable substances. The Flame Retardant Market accounted approximate USD 7.30 billion in 2020 and it is expected to reach USD 9.9 billion in 2030 with a CAGR of 3.2% during the forecast period. Additionally, it has higher efficiency, light stabilizer effects, less corrosion during processing and resistance to re-ignition.

Market Segmentation:

On the basis of type, it is classified into aluminum trihydrate, brominated, chlorinated, phosphorous and others. The segment aluminum trihydrate hold the largest market share. According to research study, demand for aluminum trihydrate was over 900 kilo tons in 2018. Additionally, low cost and environmental friendly properties as compare to other flame retardants are driving the demand of aluminum trihydrate. On the basis of end user type, it is segmented into building & construction, electronics, automotive, wires & cables and others. Building and construction segment is dominated the market and it is expected to maintain same trend during the forecast period. According to research study, building & construction segment accounted approximate 41% of the global market. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.  x

Market Dynamics and Factors:

The demand from emerging economies, advancement in technology,   increased security measures and new regulatory guidelines for reducing toxic chemicals are driving the market. Moreover, the growth in construction, automotive, electronics industries and improved government regulations, safety standards for smoke and flammability across the globe driving the demand for market. However, the key producers are raising the prices of flame retardant products and toxicity issue at the time of flame retardant production process may lead to hamper in demand. Providing awareness on environment friendly flame retardants and fire safety norms among the consumers is likely to act as an opportunity to the market.

Geographic Analysis:

Asia Pacific market is dominating and hold largest share for global flame retardant market. Increasing safety concerns and growth of various end user industries in the region are driving the market. According to research study, the Chinese market dominated the regional market and it is followed by Japan and India in terms of consumption. China alone accounted for approximate 24% of the global demand of flame retardant. North America continues to be the second largest shareholder in market followed by Europe. North America is expected to exhibit satisfactory market growth rates, owing to increasing demand of electrical and electronic goods.

Competitive Scenario:

Some of the key players in global flame retardant market are Clariant AG, Dow Chemical Company (US), Lanxess AG, Albemarle Corp., Akzo Nobel N.V., BASF SE, Faretar flame retardant Technology Co.Ltd., DuPont (US), Dover Chemical Corp., and Israel Chemicals Ltd.

Flame Retardant Market Report Scope